Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Turkish-Armenian intellectual says failed coup staged to purge Gülen followers

Turkish-Armenian linguist and writer Sevan Nişanyan, who escaped from a prison in İzmir in July, shared his take on a failed coup in Turkey last year, saying it was staged in order to cleanse the Turkish military of followers of US-based Turkish Islamic scholar Fethullah Gülen.

US high school students visit Turkey, give glowing reviews

A group of American students who came to İstanbul in a cultural exchange program have told Today’s Zaman that their warm reception in Turkey has caused them to view the country extremely positively.

Gülen’s ideas address the entire world

The ideas of Fethullah Gülen, the most discussed figure of Turkey for decades now, have become important topics in the intellectual circles of the world in recent years.

Coup d’état attempt: Turkey’s Reichstag fire?

On the evening of July 15, 2016, a friend called around 10:30pm and said that both bridges connecting the Asian and European sides of Istanbul were closed by military barricades. Moreover, military jets were flying over Ankara skies. As someone living on the European side of Istanbul and commuting to the Asian side to my university on a daily basis and spending many hours in traffic in order to do that, I immediately knew that the closure of both bridges was a sign of something very extraordinary taking place.

Turkey’s first private Arabic station starts to broadcast

Hira TV will also feature Samanyolu TV, which has been broadcasting programs in Arabic for almost 20 years. Hira TV CEO Yusuf Acar said the new channel’s target audience is families, adding: “Through cultural and scientific TV programs, we will appeal to all Arab people, including both children and adults. In addition, we will broadcast lectures from Fethullah Gülen, a Turkish-Islamic scholar.”

AK Party VP Sahin: We can only be grateful to Hizmet people

Vice President of the ruling Justice and Development Party (AK Party), Mehmet Ali Şahin remarked on the relations between AK Party and the Hizmet Movement (Gulen movement) in an interview*. Şahin said, “Is it possible for us to have any issue with the people performing such activities? We can be only grateful to them. We […]

Latest News

Sacramento leaders gather for Iftar dinner in celebration of Ramadan

SEO Skill Suite: Tools for Keyword Research, Technical & Backlink Analysis

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

In Case You Missed It

An interesting debate in the European Parliament

TÜBİTAK changes olympiad scoring system, penalizes private schools

Erdogan and Gulen: Inevitable Clash?

Excitement of Turkish Olympiads felt in Ethiopia

TAA holding annual Turkic American Convention in Washington

Accused by Erdogan of plotting a coup, Hizmet movement fears for freedom in Turkey

Colours of the World; IFLC Pakistan grand finale

Copyright 2026 Hizmet News